Forum Archive Index - October 2001

[Chris Watson <Chris.Watson@computerland.co.nz>]

Phaedrus

Tell us could you, what software are you using to produce your graphs?

> -----Original Message-----
> From: Phaedrus [SMTP:Phaedrus@techemail.com]
> Sent: Thursday, October 04, 2001 12:03 PM
> To:   Sharechat@sharechat.co.nz
> Subject:      [sharechat] CLI
> 
>  CLI has been in a downtrend lasting some 6 weeks. It closed yesterday at
> $2.80, thus has now broken through the downward trend line.
>  Note the price/volume climax on 28/9/01. The are typical of major turning
> points. The volume of 2.4 million shares traded is the highest on the
> chart. Note the much lower Low of $2.30. See how buying pressure overcame
> selling pressure to Close much higher than the Low. ($2.46) This forms a
> Candlestick with a long lower "shadow", again very typical of a
> significant turning point. The Close yesterday was almost at the high for
> the day, a bullish sign, hinting at further rises to come. 
>  While the downtrend has ended, technically there is not an uptrend until
> there is a higher High after a higher Low. 
>    Phaedrus
> 
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